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International

Business Confidence in Australia Falls in July Amid Middle East Uncertainty, NAB Says

Business confidence in Australia fell 1 point to negative 6 in July, as uncertainty over the Middle East conflict and oil prices continued to weigh on the business outlook, National Australia Bank (ASX:NAB) said in a Tuesday report.Business conditions rose by 1 point to 4 index points, driven by modest improvements in profitability and employment.Confidence rose across most Australian states in July, led by sharp gains in South Australia and Tasmania, while business conditions strengthened significantly in Victoria and Western Australia.The July survey shows that measures of cost and price growth rose, but remained well below the pace seen at the peak of the Middle East conflict in March.Businesses continue to face mounting cost pressures, with labor costs rising to their highest level since January 2025 and purchase and product prices returning to pre-conflict levels.Capacity utilization rose sharply in July, climbing 0.9 percentage points to 83%, while mixed signals from capital spending intentions and forward orders pointed to continued weakness in the outlook.

ASX 200ASX:NAB
Asia

National Australia Bank Group Chief Operating Officer to Retire in September

National Australia Bank's (ASX:NAB) Group Chief Operating Officer Les Matheson decided to retire from the company on Sept. 30, according to a Tuesday filing with the Australian bourse.

ASX:NAB
Asia

Australian Shares Retreat; Ampol Reports Higher H1 Profit, Says Queensland Refinery to Undergo Major Maintenance in August

Australian shares closed lower on Thursday, as investors reacted to fresh escalations in the conflict in the Middle East as well as the US Federal Reserve's monetary policy decision.The S&P/ASX 200 Index fell 0.78%, or by 70.90 points, to close at 8,967.70 after setting a new 100-day high.Brent crude oil futures fell to trade around $91 per barrel even as the US conducted fresh strikes against targets in Iran.The US Federal Reserve, under new Chair Kevin Warsh, kept monetary policy unchanged. Overnight on Wall Street, the S&P 500, the Nasdaq Composite, and the Dow Jones Industrial Average fell 1.5%, 1.7%, and 2.2%, respectively.On the domestic front, Australia's export prices rose 1.1% in the June quarter following a 0.5% increase in the March quarter, while growth in import prices accelerated to 5.7% from 0.1%, data from the Australian Bureau of Statistics showed.The number of total dwellings approved in Australia in seasonally adjusted terms recorded an increase of 7.2% month on month to 18,328 in June and 8.9% year on year, according to figures from the Australian Bureau of Statistics.In company news, Ampol (ASX:ALD) said its first-half unaudited group replacement cost operating profit (RCOP) earnings before interest, taxes, depreciation, and amortization (EBITDA) clocked in around AU$1.6 billion, jumping from the AU$649 million reported in the prior-year period. It added that the Lytton refinery in Queensland will undergo major maintenance starting in August. Ampol's shares earlier hit an all-time high.Domino's Pizza Enterprises (ASX:DMP) reaffirmed its fiscal 2026 underlying profit after tax guidance of AU$118 million to AU$122 million despite expecting a statutory loss after booking around AU$300 million in mostly non-cash balance sheet write-downs.Lastly, National Australia Bank (ASX:NAB) said the business lending balances of its business and private banking (B&PB) division jumped 10% year over year to AU$180 billion in the June quarter from AU$165 billion.

ASX 200ASX:ALDASX:DMPASX:NAB
Asia

New Zealand Shares Fall; Freightways Group Appoints David Gibson as Chair

New Zealand shares ended lower on Thursday as Asian markets showed a broad-based decline amid the US Federal Reserve's decision to hold rates and Wednesday's Wall Street sell-off.The S&P/NZX 50 Index fell 1.53% or 213.89 points to close at 13,762.78.On Wednesday, the Nasdaq Composite fell 1.7%, the S&P500 declined 1.5%, and the Dow Jones lost 2.2%.The Federal Reserve held its policy rate steady in a divided decision that included three officials calling for policy tightening. The central bank's Federal Open Market Committee maintained the target range for the federal funds rate at 3.50% to 3.75%, marking its fifth consecutive pause.On the domestic front, the ANZ New Zealand Business Outlook rose to a net 56.1 in July, up from 36.6 in June, while expected own activity rose to 49.3 from 36.9, according to a report from ANZ Research.In corporate news, Freightways Group (NZE:FRW, ASX:FRW) appointed board member David Gibson as chair to succeed Mark Cairns, effective Thursday.

^NZ50ASX:ANZASX:CBAASX:FRWASX:NABASX:WBCNZE:ANZNZE:FRWNZE:WBC
Asia

ACCC Grants Australian Banks Further Interim Authorization for Proposed Joint Venture for Commercial Cash Supply

The Australian Competition and Consumer Commission (ACCC) said Thursday it granted further interim authorization to Australia and New Zealand Banking Group (ASX:ANZ, NZE:ANZ), Commonwealth Bank of Australia (ASX:CBA), National Australia Bank (ASX:NAB), National Australia Investment Capital, and Westpac Banking (ASX:WBC, NZE:WBC) to take further steps towards a proposed joint venture to deal with the supply of commercial cash in Australia.The further interim authorization authorizes the banks to agree and enter into, but not give effect to, various agreements, the regulator said. The authorization begins immediately and may be reviewed at any time.The banks sought authorization to establish a single joint cash pool and bailment structure via an incorporated operating entity for the supply of commercial cash in Australia. Under the proposal, each applicant would acquire a 25% shareholding in the entity and a 25% interest in the cash pool. The ACCC determined that the acquisitions may be put into effect on June 26.

ASX:ANZASX:CBAASX:NABASX:WBCNZE:ANZNZE:WBC
Asia

National Australia Bank's Business, Private Banking's Business Lending Balances Jump 10% in June Quarter

National Australia Bank (ASX:NAB) said the business lending balances of its business and private banking (B&PB) division jumped 10% year over year to AU$180 billion in the June quarter from AU$165 billion, according to a Thursday Australian bourse filing.The division saw the strongest June month since fiscal 2022, the lender said. Home lending balances in the division climbed 6% year over year to AU$115 billion in the quarter from AU$108 billion. However, the value of home lending applications were 9% lower than applications in the prior quarter.The division's deposit balances increased by 9% to AU$254 billion year over year in the June quarter from AU$233 billion, consistent with seasonal trends.The ratio of non-performing loans to gross loans and acceptances improved to 2.9% as of June from 3% as of March, the bank said. Watch loans increased 8% over the quarter, reflecting current and potential impacts from a challenging environment.

ASX:NAB
Asia

National Australia Bank's WealthHub Securities Fined AU$1.1 Million Over Regulatory Data Reporting Failures

National Australia Bank's (ASX:NAB) online broker unit WealthHub Securities has been fined about AU$1.1 million by the Markets Disciplinary Panel relating to failures to accurately report regulatory data more than 9.5 million times over 10 years, according to a Wednesday disclosure by the Australian Securities and Investments Commission (ASIC).The panel found that from July 28, 2014, to Oct. 31, 2024, WealthHub failed to provide complete and accurate regulatory data and did not have and maintain the organizational and technical resources needed to comply with its reporting obligations, following an ASIC probe, the statement added.WealthHub has complied with the infringement notice and has paid the fine, it added.National Australia Bank's shares rose 1% in recent Wednesday trade.

ASX:NAB
Asia

Credit Growth Forecast to Half by 2027, Tighten Bank Funding, Jefferies Says

Credit growth is forecast to halve by 2027, which will tighten rather than ease bank funding, and revised deposit modelling shows the sector's loan-to-deposit ratio rising, driving banks to compete more aggressively for a shrinking pool of funding, Jefferies said in a Thursday note.Recently acquired deposit pricing data points to a second half of fiscal 2026 spread tailwind, but deposit scarcity dominates thereafter.Commonwealth Bank is expected to remain the primary deposit beneficiary, reflecting its scale and long-dated hedge book.The investment firm assigned a buy rating to National Australia Bank (ASX:NAB) with a price target of AU$44.96 per share. It assigned hold ratings to both ANZ Group (ASX:ANZ, NZE:ANZ) and Westpac (ASX:WBC, NZE:WBC), with price targets of AU$33.71 per share and AU$34.95 per share, respectively.Commonwealth Bank of Australia (ASX:CBA) was assigned an underperform rating with a price target of AU$144.40 per share.

ASX:ANZASX:CBAASX:NABASX:WBCNZE:ANZNZE:WBC
Asia

New Zealand Shares Rise; APRA Starts Consulting on Proposed Changes to Banks' Credit Risk Capital Settings

New Zealand shares closed higher on Monday while Asian markets digested the US and Iran's agreement to halt renewed hostilities.The S&P/NZX 50 Index rose 0.37% or 50.32 points to close at 13,545.56.Iran and the US have agreed to halt recent hostilities in the Gulf and renew talks over their dispute regarding the Strait of Hormuz, according to a Sunday Reuters report, citing a US official.In domestic news, the seasonally adjusted number of filled jobs across New Zealand industries rose 0.3% month on month to 2.4 million in May, following a 0.1% decrease in the previous month, data from Stats NZ showed.Also, the total enterprise count in New Zealand in May was 598,137, down from 591,693 in the same period last year, according to figures released by Stats NZ.Further, construction cost growth in major New Zealand centers largely stabilized in June, with key cost rates showing minimal movement, QV said in a report.Meanwhile, the Reserve Bank of New Zealand (RBNZ) is expected to raise the cash rate by 25 basis points at its July meeting, according to a report by BNZ Research.In corporate news, the Australian Prudential Regulation Authority (APRA) started consulting on proposed amendments to banks' credit risk capital settings as part of a reform package to bank capital and liquidity settings, the prudential regulator said in a statement.

^NZ50ASX:ANZASX:CBAASX:NABASX:WBCNZE:ANZNZE:WBC
Asia

National Australia Bank Calls for National Economic Crime Strategy Amid Mortgage Fraud Crackdown

National Australia Bank (ASX:NAB) said it has been investing significant resources to fight industry-wide mortgage fraud, referring multiple parties to appropriate authorities and exiting or suspending several parties from the bank, according to a Monday statement.The bank said it is working closely with peers through the Fintel Alliance and directly with law enforcement to share intelligence and strengthen the collective response.NAB is calling for the development of a National Economic Crime Strategy to create a coordinated national approach to better protect Australian customers, industry, and the broader economy, through stronger intelligence sharing, deeper cross-sector collaboration, and more consistent regulatory settings to fight economic crime at the source, it added.

ASX:NAB
Asia

APRA Starts Consulting on Proposed Changes to Banks' Credit Risk Capital Settings

The Australian Prudential Regulation Authority (APRA) started consulting on proposed amendments to banks' credit risk capital settings as part of a reform package to bank capital and liquidity settings, the prudential regulator said in a statement on Monday.Key proposals include allowing a lower risk weight for large domestic public infrastructure exposures and for high-quality unrated corporate exposures, subject to certain criteria, and adjusting criteria to allow for more exposures to qualify for the lower 100% risk weight for residential property development, the regulator said.APRA plans to finalize credit risk capital changes in the second half of the year for a proposed effective date of April 1, 2027, per the statement.ANZ Group (ASX:ANZ, NZE:ANZ) shares rose marginally in morning trade in Australia.Commonwealth Bank (ASX:CBA) shares rose 1%, while National Australia Bank (ASX:NAB) were up nearly 1%.Westpac Banking (ASX:WBC, NZE:WBC) shares were up almost 1%.

ASX:ANZASX:CBAASX:NABASX:WBCNZE:ANZNZE:WBC
Asia

National Australia Bank Customer Proceedings Dismissed by Australia's Federal Court

Australia's Federal Court dismissed proceedings against National Australia Bank (ASX:NAB) filed by a customer who alleged that the bank improperly rejected his request for financial hardship assistance in 2022, according to a Tuesday verdict.The customer, who also claimed the bank breached credit reporting obligations by incorrectly reporting his repayment history on personal loans to credit bureaus, was seeking AU$4 million in damages.However, the court found that the claim of unconscionable conduct by the bank is not supported by the evidence. It said National Australia Bank "acted reasonably and generously" toward the customer at all times.

ASX:NAB
International

More Than 40% of Australian Small, Medium Businesses Using AI Tools, NAB Says

More than four in 10 Australian small and medium businesses are using artificial intelligence tools, and a further 14% are planning to adopt them, with property services, finance and insurance, and business services sectors leading adoption, according to a Tuesday report by National Australia Bank (ASX:NAB).The bank said businesses operating in industries that handle large volumes of data are leading the way, with property services at 69%, finance and insurance services at 64%, and business services at 61%.NAB said 35% of businesses see automation as the biggest opportunity for AI, while 44% report they are not currently using AI, but almost every internet-enabled workplace will have some exposure through everyday tasks such as internet searches or drafting emails.

ASX 200ASX:NAB
Asia

National Australia Bank Launches Operations Hub to Guard Against AI-Enabled Threats, Support Banking Services

National Australia Bank (ASX:NAB) launched NAB Nexus, an integrated operations hub designed to protect it from rapidly evolving artificial intelligence-enabled threats, protect customers, and support critical banking services, the bank said in a statement on Monday.NAB Group Chief Executive Officer Andrew Irvine said the hub will integrate technology, cyber security, fraud, payments, and physical security capabilities. It supports continuous monitoring, faster handover, and more coordinated response.The lender said it had invested over AU$900 million in fiscal 2025 in fraud, scams, cyber, and financial crime protections.

ASX:NAB
Asia

Banks, Insurers Expected to Build Resilience Against Geopolitical Risk, APRA Chair Says

The Australian Prudential Regulation Authority (APRA) plans to write to banks, insurers, and superannuation trustees in order to ensure these entities better integrate geopolitical risk into governance, risk management, and crisis preparedness practices, according to a speech on Wednesday by the regulator's chair, John Lonsdale.The letter will set out the regulator's minimum expectations for how boards and senior management strengthen readiness for geopolitical shocks. Entities are expected to manage geopolitical risk through APRA's existing prudential framework, including prudential standards on governance, risk management, operational risk, resolution and recovery, and exit planning.The regulator also plans to write to a "selected group of larger entities with heightened exposure to geopolitical shocks," asking them to undertake targeted readiness assessments.It identified six key focus areas for entities to uplift their monitoring and response capabilities regarding geopolitical risk. APRA said it wants to see evidence of scenario analysis, capital and liquidity planning, as well as to see operational resilience embedded in risk management practices to support continuity of critical operations across a range of geopolitical scenarios.The regulator also highlighted the risk of insider threats and foreign interference, as well as political risks, including the need for financial institutions to rapidly implement sanctions.

ASX:ANZASX:CBAASX:IAGASX:NABASX:QBEASX:WBCNZE:ANZNZE:WBC
Asia

National Australia Bank Completes Redemption of Capital Notes

National Australia Bank (ASX:NAB) on Wednesday completed the redemption of all outstanding NAB capital notes 3 for AU$100 per note, according to a same-day filing with the Australian bourse.The final distribution of AU$1.4438 per note was also paid the same day, the company said.

ASX:NAB
Asia

Australian Bank Majors Face a Step Lift in Capital Strain After Years of Strong Home Loan Growth, Jarden Says

Australian banking majors face a step lift in capital strain following recent policy changes and decades of high loan volumes to fund home buying that contributed to a surge in house prices, Jarden said in a late Monday note.During the last 30 years, AU$2.4 billion of credit was directed to fund home buying, more than double the AU$1.1 billion extended to productive uses in business, according to the note.Home loan risk weights started at 50% in the 1990s, troughed at 14% in 2014, and are now averaging roughly 23%, Jarden said. ANZ Group (ASX:ANZ, NZE:ANZ) has a home loan risk weight of 24%, Commonwealth Bank of Australia (ASX:CBA) 22%, National Australia Bank (ASX:NAB) 26%, and Westpac Banking (ASX:WBC, NZE:WBC) at 20%."We see a change in mix of required macro capital allocation," the equity research firm said in relation to banks supporting productive investments instead of relying on housing loans. It also questioned whether the banks' dividend payout ratios are too high, as the policies were implemented when home loan growth regularly exceeded corporate lending growth.Jarden believes major bank share prices remain expensive even after some retracing, and are not priced for any negative regime change.It maintained an overweight rating and Au$35.50 price target on ANZ, while keeping a sell rating on the other three banks. Commonwealth Bank's price target remains at AU$90, National Australia Bank's at AU$29, and Westpac's at AU$31.

ASX:ANZASX:CBAASX:NABASX:WBCNZE:ANZNZE:WBC
Asia

Australian Banks Boost Business Lending in Wake of Sustained Margin Compression in Mortgage Sector, Fitch Says

Sustained margin compression in the highly competitive mortgage sector drove Australia's major banks to boost their business lending over the past three years, Fitch Ratings said in a note on Monday.This rapid expansion is considered a source of heightened asset-quality risk through the cycle, particularly if macroeconomic conditions weaken further, the ratings firm added. It expects impaired loan ratios to rise across the sector over the next 12 months in the wake of higher interest rates, persistent inflation, and a moderate increase in unemployment.Westpac Banking (ASX:WBC, NZE:WBC) saw 39% business loan growth over the three years to March 31, leading the pack. National Australia Bank (ASX:NAB), however, retained the highest business loan concentration at around 40% of total loans.The banks' "aa-" asset-quality scores are sustained by strong collateral positions, but a prolonged macroeconomic deterioration or loosening of underwriting standards could accelerate credit stress.

ASX:ANZASX:CBAASX:NABASX:WBCNZE:ANZNZE:WBC
Asia

National Australia Bank Opens New Branch in New South Wales

National Australia Bank (ASX:NAB) opened its new branch in Westfield Kotara in New South Wales, the lender said in a statement on Friday.It is the bank's first branch in Newcastle to offer full-service banking on a Saturday, with customer access to self-service options, the statement said.The branch will be supported by a team of seven, including banking specialists and a home lending expert, per the statement.Shares rose past 1% in morning trade Friday.

ASX:NAB
International

Australian Bank Funding Gap Expected to Decline Around 14% Over Next 12 Months, BofA Securities Says

The bank funding gap in Australia is expected to decline around 14% over the next 12 months to around AU$1 trillion by June 2027 from around AU$1.2 trillion, as tax changes lead to slower credit growth, BofA Securities said in a Thursday note.Changes to capital gains tax and negative gearing are expected to materially slow investor mortgage lending. Investors accounted for around 40% of mortgage flows over the past year. Consecutive central bank hikes and negative sentiment have weighed on the housing market, with house prices expected to remain flat this year.The recent strength in deposit growth is expected to continue. Slower credit growth should reduce banks' demand for high‐quality liquid assets, which has been a key support for semis. A narrower bank funding gap implies reduced bank bill issuance.Banks have reduced their reliance on wholesale funding in recent years, while deposits as a proportion of total funding improved to 67.5%, the note said. Commonwealth Bank of Australia (ASX:CBA) has the strongest customer deposit base, with deposits accounting for 79.4% of funding.

ASX:ANZASX:CBAASX:NABASX:WBCNZE:ANZNZE:WBC

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